Hi!
What is the time limit for depositing bill of entry with the bank?
Time limit for depositing bill of entry
Pawan Verma (Assistant manager finance) (186 Points)
12 November 2013
5 Replies
Vikash Kumar
(Manager Accounts (CA. Final))
(694 Points)
Replied 12 November 2013
Three months from the date of remittance.
Pawan Verma
(Assistant manager finance)
(186 Points)
Replied 12 November 2013
| Originally posted by : Vikash Kumar | ||
 |
Three months from the date of remittance. |
 |
Are there any penalties for not late deposit / Non deposit?
In the link below, it is only stated that the authorised dealers(banks) shall followup with the Importers
https://www.rbi.org.in/scriptts/ECMUserParaDetail.aspx?Id=97&CatID=14
Vikash Kumar
(Manager Accounts (CA. Final))
(694 Points)
Replied 12 November 2013
In case of late deposit, generally bank charges some penalty after reminder & in case of non filing you may face various inquires upon filing of non-submission report by concerned bank with RBI.
Bhargav teja
(CA-FINAL Student & Article Trainee)
(153 Points)
Replied 12 November 2013
Agreed with above answers
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